Well, if you have stock in Nike, I'd sell before this picture becomes widely known: (via Drudge)

It's a reference to the English flag. Or, more accurately, the flag of St. George. It's the one that Christians fought under during the Crusades. There was also a local ban on displaying the flag related to the World Cup.

Do you think Nike may have lost some Arab fans?

Looks like a windfall for Adidas in Arab countries.

UPDATED: That didn't take long. The only surprising thing is that it's Christian groups complaining. At least the Daily Mail gets the Crusader reference.

From the article (via Drudge): The MP for Ealing North added: 'He should go out and wear Adidas instead. It's offensive on so many different levels and extremely nasty.'